7/30/2020, 6:44 AM (Source: TeleTrader)
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Airbus revenue drops 55% to €8.32B in Q2

Airbus SE announced on Thursday that its revenue stood at €8.32 billion in the second quarter of fiscal 2020, plunging 55% compared to the same period last year, while it's net loss landed at €1.44 billion, down from 2019's second-quarter income of €1.16 billion. The company reported a loss per share of €1.84 in the time period, which marks a significant drop compared to last year's EPS of €1.49.

In the first six months of the year, the aerospace giant booked revenues of €18.95 billion, which is 39% lower year-on-year, while its net loss came in at €1.92 billion, deteriorating compared to 2019's income of €1.2 billion.

"The impact of the COVID-19 pandemic on our financials is now very visible in the second quarter, with H1 commercial aircraft deliveries halving compared to a year ago," CEO Guillaume Faury stated. "We have calibrated the business to face the new market environment on an industrial basis and the supply chain is now working in line with the new plan. It is our ambition to not consume cash before M&A and customer financing in H2 2020," he added.

Baha Breaking the News (BBN) / NL